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Homeowners trying to sell their homes FSBO are encountering more difficulties than ever before



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By : Judy Gratton    99 or more times read
As a result of our economic instability, and the downward readjustment of property values many homeowners have considered trying to sell their homes themselves to save money. However, they are encountering unforeseen difficulties that make it more difficult than expected.

Factors such as soaring foreclosures and short sales have created buyer expectations of even lower home prices in many areas according to real estate professionals.

People anticipating selling their properties quickly have also become disappointed at the extended market time due to the increase of property inventory on the market.

Many sellers have entered into contracts with buyers that aren’t necessarily qualified to actually perform on buying the home. This is discovered after having taken their home off the market for several weeks, or months then having the buyer being unable to get the anticipated financing. If the seller actually gets a buyer to agree upon their asking price and once again moves forward with a contract, there have been many instances where the appraisal has come in less than the asking price, again resulting in the loss of a sale.

According to local reports, sellers expecting to get less on a home sale than what they need to pay for their mortgage-opting for short sales with the anticipation of walking away from the outstanding debt, do so without knowledge of the potential tax implications, or possible responsibility to the banks for the unsecured debt.

It is apparent that choosing to work with an experienced qualified Realtor is even more important in this market. Many of these problems could have been averted by having the council of a professional. A professional Realtor would be able to present a true market value for your home and educate you on the benefits and risks of short sales if necessary. A Realtor has multiple avenues to marketing property that the general public doesn’t. Strong experience in a market place should help to bring your home to the forefront among the vast number of homes for sale allowing for shorter market time. A Realtor's negotiating skills, understanding of the process and contract should protect your interests and provide the highest possibility of actually closing the sale of your home and providing the highest return.

In closing the old adage “Penny wise, pound foolish” might be worth considering when it comes to selling your property.
Rismedia, NWMLS,

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